Italian Influencer Chiara Ferragni Fined €1.0 million In Holiday Cake Investigation
Click to viewChiara Ferragni, an OG fashion blogger whose built a massive following as a fashion influencer. Back in December 2022, the influencer (30 million followers) promoted the sale of her brand's collaboration with pastry company Balocco for a special pandoro cake priced at €9, while a generic version costs about €4.
The reason for the markup was that proceeds of Ferrgani's branded version would go to charity and that consumers who purchased presumed that the money would go toward cancer research as promised in Ferragni's advertising of the product.
However, Balocco had made a donation of €50,000 months before the promotion, meaning the sales did not go to charity. Ferragni's company did not donate any money from activities related to the collaboration. It is thought the collaboration made around €1 million in sales.
The investigation, led by Italy's antitrust authority AGCM began in June 2023 and the fine was announced just this week - just as the pandoro season hits again.
Ferragni and Balocco denied any wrongdoing and both parties are planning to appeal. Comments on the influencer's posts are now limited.
Sources Reuters | Fanpage.it YT